Krispy Kreme Inc.’s stock was down more than 23% Tuesday and heading toward a new low, weighed down by the doughnut maker’s fourth-quarter results and weak full-year outlook.

Key Takeaways Krispy Kreme shares sank to a record low as results and guidance missed estimates following a cybersecurity incident and restructuring moves.The donut maker said the December hack had an $11 million impact on revenue.